It's possible to trade profitably on the Forex, the nearly $2 trillion worldwide currency exchange market. But the odds are against you, even more so if you don't prepare and plan your trades. According to a 2014 Bloomberg report, several analyses of retail Forex trading, including one by the National Futures Association (NFA), the industry's regulatory body, concluded that more than two out of three Forex traders lose money. This suggests that self-education and caution are recommended. Here are some approaches that may improve your odds of taking a profit. Prepare Before You Begin Trading Because the Forex market is highly leveraged -- as much as 50 to 1 -- it can have the same appeal as buying a lottery ticket: some small chance of making a killing. This, however, isn't trading; it's gambling, with the odds long against you. A better way of entering the Forex market is to carefully prepare. Beginning with a practice account is helpful and risk-free. While you're trading in your practice account, read the most frequently recommended Forex trading books, among them Currency Forecasting: A Guide to Fundamental and Technical Models of Exchange Rate Determination, by Michael R. Rosenberg is short, not too sweet and highly admired introduction to the Forex market. Forex Strategies: Best Forex Strategies for High Profits and Reduced Risk, by Matthew Maybury is an excellent introduction to Forex trading. The Little Book of Currency Trading: How to Make Big Profits in the World of Forex, by Kathy Lien is another concise introduction that has stood the test of time. All three are available on Amazon. Rosenberg's book, unfortunately, is pricey, but it's widely available in public libraries. "Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude," by Mark Douglas is another good book that's available on Amazon, and, again, somewhat pricey, although the Kindle edition is not. Use the information gained from your reading to plan your trades before plunging in. The more you change your plan, the more you end up in trouble and the less likely that elusive forex profit will end up in your pocket. Diversify and Limit Your Risks Two strategies that belong in every trader's arsenal are: Diversification: Traders who execute many small traders, particularly in different markets where the correlation between markets is low, have a better chance of making a profit. Putting all your money in one big trade is always a bad idea. Familiarize yourself with ways guaranteeing a profit on an already profitable order, such as a trailing stop, and of limiting losses using stop and limit orders. These strategies and more are covered in the recommended books. Novice traders often make the mistake of concentrating on how to win; it's even more important to understand how to limit your losses. Be Patient Forex traders, particularly beginners, are prone to getting nervous if a trade does not go their way immediately, or if the trade goes into a little profit they get itchy to pull the plug and walk away with a small profit that could have been a significant profit with little downside risk using appropriate risk reduction strategies. In "On Any Given Sunday," Al Pacino reminds us that "football is a game of inches." That's a winning attitude in the Forex market as well. Remember that you are going to win some trades and lose others. Take satisfaction in the accumulation of a few more wins than losses. Over time, that could make you rich!


Have you ever eaten Filipino food? I hadn’t until I started testing recipes for this post. I tried googling Filipino restaurants in Massachusetts and there’s only one!  More research and it seems that there aren’t a lot of Filipino restaurants in America, yet according to the Census Bureau, Filipinos are the second-largest Asian group in the USA, totaling 3.4 million people (based on 2010 estimates).

The Philippines is an archipelago of over 7,000 islands in southeast Asia, not far from Thailand, whose cuisine we all know well and love. I can’t say why Filipino food isn’t more prominent in the culinary scene here, but I will tell you that If this chicken adobo is any indication, Filipino food rocks, and we should all be enjoying it!

It’s still snowy and cold in Boston and I’m still craving big pots of flavorful, falling-apart stew. So it’s been great to have an excuse to stay in and play in the kitchen. When I’m figuring out what recipe to do next, I love to read about different countries and their indigenous dishes. The Filipino “adobo” technique grabbed me – it’s a process of stewing foods – chicken, meat or vegetables –  in a garlicky, peppery vinegar sauce.  By the way, it has nothing to do with the other adobo – the Spanish one with chipotles.

I knew I would love this dish. Chicken adobo is loaded with a bunch of my favorites ingredients – garlic, vinegar, soy sauce, and black pepper. Slow simmering causes the sauce to thicken and intensify and the chicken gets tender to the point of almost falling apart.
  • 4 pounds chicken thighs (with bones and skin)
  • 1 1/2 cups distilled white vinegar
  • 1/2 cup soy sauce
  • 2 tablespoons olive oil or other cooking oil
  • 1 medium onion, halved and thinly sliced (1 1/2 cups)
  • 1 head of garlic, cloves separated, flattened, peeled, and roughly chopped. (about 6 tablespoons chopped)
  • 1 tablespoon plus 1 teaspoon Thai fish sauce or Filipino fish sauce
  • 1 teaspoon freshly ground black pepper
  • 2 dried bay leaves

  1. Marinate Chicken: Put chicken in a non-reactive bowl or casserole. Combine the vinegar and 1 tablespoon of the chopped garlic. Pour over chicken and turn to coat. Marinate in the fridge or in a cool place for 30 minutes. Remove chicken from the marinade, allowing excess to drip back into the bowl and transfer chicken to a clean plate. Reserve the marinade.
  2. Brown Chicken & Aromatics: Heat oil over medium heat in a large dutch oven or another heavy pot with a lid. Pat chicken lightly with a paper towel to dry. Brown in batches (4-5 pieces at a time), starting skin side down for 3-4 minutes. Turn and brown for just a minute on the other side. Transfer to a clean plate. Repeat with all the chicken. Pour out all but 2 tablespoons fat from the pot. (hint: It’s easier if you pour it all out, into a small bowl or coffee cup, and then add back the 2 tablespoons) Set the heat to medium-low, add onions and the rest of the garlic to the pot and sauté, stirring occasionally, for about 10 minutes, until the onions are softened.
  3. Simmer Chicken: Return the chicken to the pot along with any accumulated juices, vinegar-garlic marinade, soy sauce, fish sauce, black pepper, bay leaves and 1/4 cup of water. Toss chicken with onions and sauce to coat. Bring to a boil. Lower to a simmer. Cover and cook at a low steady simmer for 30 minutes.
  4. De-fat the sauce before continuing (I don’t like a lot of unnecessary fat in my food so this is a step I often do when I’m cooking a soup or stew, though it’s not required.) Turn off heat for 5 minutes to let the fat rise to the surface. Use a teaspoon to carefully skim off several spoonfuls of fat. The fat will be clear vs the sauce, which is brown. No need to get all the fat. You can always skim more when the dish is done, if you like.
  5. Finish: Return the pot to a simmer. Toss chicken to coat with sauce. Cover and simmer gently for 30 more minutes, until the chicken is tender and the sauce is a rich brown color. Serve over rice.


Halaman Berikutnya

Subscribe to receive free email updates:


Posting Komentar